But since both my husband and I have gotten injured from our day jobs (carpal tunnel and repetitive strain) at ages 27 & 22, we've realized this is not what we want to be doing for the rest of our lives.

I've been warned by my agent to be sure contractors are licensed and insured because my landlord insurance would deny coverage if something happens and the contractor is not licensed and insured.If the contractor is not licensed and insured and if a worker is injured doing work at my property, I'm told in my state the property owner will be sued.

If you are the piece holding everything together, it could be a nightmare if you were to get sick or injured.

If they make an attempt they will probably injure themselves, setting them back further and worse discouraging future attempts.

This would never happen--health care professionals, Doctors and Nurses, they have a code of ethics to treat the sick and injured, not to pass judgment.  

If someone injures themselves and sues, they will be suing the LLC and not you personally.

I am scared both for the property and for my liability if he were to injure himself.I am very new at this, so it didn't even occur to me to write anything into the lease about excessive drunkenness.

I'd tell him that I understand his client would have to prove he injured himself on my property because of my negligence and that is going to be pretty hard to prove.

Insurance varies but it covers damages to the property and protection if a tenant gets injured and sues.

So it's never too late.I started in Real Estate in my late 20's, didn't get serious until I was able to walk away from my contracting business after getting injured in my late 30's, then semi-retired I started a real estate note business in my late 40's and haven't looked back since.